LB Foster Agrees To Delay Portec Buy For DOJ Probe

Law360, New York (May 13, 2010, 5:15 PM EDT) -- Railroad components manufacturers LB Foster Co. and Portec Rail Products Inc. have agreed with antitrust regulators not to finalize their merger agreement before July 16, giving the U.S. Department of Justice more time to investigate the acquisition.

LB Foster announced the agreement Thursday, noting that antitrust regulators previously sent both companies a formal second request for additional information regarding the merger. The companies also announced they had extended the drop-dead date to Aug. 31 for the merger to finalize.

LB Foster agreed to acquire Portec in...
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